922 loans for Dummies
922 loans for Dummies
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At the ask for on the borrower, the Secretary is authorized and directed to refinance with loans that will be insured less than this chapter for the curiosity rates delivered in part 935 of this title any loans made for rural electrical and telephone services under any provision with the Consolidated Farm and Rural Improvement Act [seven U.S.C. 1921 et seq.].
The amount of an allocation manufactured to the Point out for a fiscal year below subparagraph (A) shall bear the same ratio to the amount of allocations produced for all States for the fiscal yr as—
A lender shall not receive a ensure underneath this section for a bond or Take note if, at the time from the ensure, the full principal quantity of these kinds of assured bonds or notes excellent of the lender would exceed the principal degree of superb loans of your lender for qualified functions described in subsection (a)(one).
On the quantities delivered to an qualified entity beneath a grant below This system, the qualified entity shall use to carry out paragraph (one)(B) not increased in comparison to the lesser of—
Extensions under this area shall not be granted unless the borrower 1st submits with its ask for either—
(B) the bond or Observe issued because of the lender would not be investment quality high-quality without having a assure; or
Government-imposed service fees related to crisis communications (like State or local 911 expenses) can be regarded as safety for a financial loan beneath this segment.
Besides as provided in subsection (b), the Secretary shall take into account any part of a assistance territory that is subject to An impressive grant settlement among the Secretary plus a broadband company to get unserved to the reasons of all broadband help plans less than this chapter, If your broadband assistance in that part of a services territory is lower than ten Mbps downstream transmission capability or lower than 1 Mbps upstream transmission ability.
§ 922. — Loans for rural telephone assistance. [Legislation in result as of January 24, 2002] [Doc not afflicted by General public Guidelines enacted involving January 24, 2002 and December 19, 2002] [CITE: 7USC922] TITLE 7--AGRICULTURE CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE Provider SUBCHAPTER II--RURAL TELEPHONE Support Sec. 922. Loans for rural telephone company From these types of sums as are occasionally read more built offered from the Congress into the Secretary for these kinds of reason, pursuant to part 903 of this title, the Secretary is approved and empowered to create loans to people now providing or who may perhaps hereafter give phone services in rural locations, to general public bodies now supplying telephone company in rural parts and to cooperative, nonprofit, restricted dividend, or mutual associations. Besides as if not furnished by this subchapter, this sort of loans shall be built under the identical terms and conditions as are presented in portion 904 of the title, for the goal of financing the advance, enlargement, construction, acquisition, and operation of phone lines, services, or devices to furnish and enhance phone service in rural locations: Presented, however, That the Secretary, in making this sort of loans, shall give preference to individuals offering telephone service in rural areas, to public bodies now supplying phone support in rural regions, and also to cooperative, nonprofit, constrained, dividend, or mutual associations: And offered more, That for any period of one calendar year from and just after Oct 28, 1949, programs for loans received via the Secretary from folks who on October 28, 1949, are engaged within the Procedure of current phone assistance in rural parts shall be regarded and acted upon right before action is taken on any application received from any other man or woman for just about any loan to finance the furnishing or advancement of telephone company to considerably precisely the same subscribers. The Secretary in producing this sort of loans shall, insofar as possible, get hold of assurance that the telephone provider to be furnished or enhanced thereby might be designed available to the widest simple variety of rural customers. When it is decided through the Secretary being essential so as to furnish or improve telephone provider in rural areas, such loans may be made for the advance, growth, construction, acquisition, and operation of telephone traces, services, or methods without regard to their geographical place.
(5) the strategy by which the Secretary decides that a support allows a subscriber to originate and get superior-high-quality voice, information, graphics, and video clip for uses of supplying broadband services under this chapter;
Very little in this subsection shall Restrict the authority with the Secretary to retain the companies of consultants from money produced available to the Secretary or if not.
(iv) The average range of subscribers for each mile of line in the area A part of the proposed mortgage is not more than 17.
§ 926. Certain rural development investments by certified phone borrowers not addressed as dividends or distributions
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